Benzinga | Feb 26, 2021 06:41AM EST

Assembly Biosciences Foregoes Vebicorvir Registration Studies For Chronic Suppressive Therapy

* Assembly Biosciences Inc (NASDAQ: ASMB) will not initiate Phase 3 studies of vebicorvir (VBR, or ABI-H0731) as a chronic suppressive therapy (CST), as the company wants to focus on hepatitis B therapies.

* The CST study was supposed to be conducted with BeiGene Ltd (NASDAQ: BGNE), which licensed the rights to VBR in China.

* The company will prioritize its portfolio of next-generation core inhibitors and combinations of VBR with complementary action mechanisms and plans to advance multiple research programs and new mechanisms to human trials.

* By redirecting the resources previously reserved for the CST, the company sees the cash runway extended into 2023, compared to the second half of 2022, expected earlier.

* Assembly Bio's HBV pipeline includes three clinical-stage core inhibitor candidates and multiple research and discovery programs.

* Two clinical studies are underway, with one more study expected to begin during the first half of 2021.

* In December, the company closed its microbiome program to prioritize resources and focus on advancing its core inhibitors for chronic HBV.

* Assembly Bio reported disappointing results from a Phase 2 study evaluating vebicorvir in treating chronic hepatitis B virus infection patients.

* The study failed to achieve meaningful, sustained virologic response rates as 39 of 41 patients relapsed.

* Price Action: ASMB is up 1.6% at $5.62 in premarket trading on the last check Friday, while BGNE closed 1.5% lower at $329.7 on Thursday.